Exam 14: Wills, Trusts, and Probate Laws Appendices Glossary Indexes

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A(n)is created by will and which becomes effective upon the death of the testator.The document will separate legal and equitable title.

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In 1900,there was no federal income tax or federal estate and gift tax.

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What are the advantages and disadvantages of owning property in joint tenancy? Is it an appropriate form of ownership for two unrelated persons? Explain?

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The person who creates an inter-vivo trust may not serve as the trustee of the trust.

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The person who creates a testamentary trust may not serve as the trustee of the trust.

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